Assenagon Asset Management S.A. Trims Stake in Rambus, Inc. (NASDAQ:RMBS)

Assenagon Asset Management S.A. lessened its stake in Rambus, Inc. (NASDAQ:RMBS - Free Report) by 76.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 178,858 shares of the semiconductor company's stock after selling 581,356 shares during the period. Assenagon Asset Management S.A. owned about 0.17% of Rambus worth $9,260,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in RMBS. Orion Capital Management LLC purchased a new position in shares of Rambus during the fourth quarter worth $37,000. Skandinaviska Enskilda Banken AB publ lifted its stake in Rambus by 927.5% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 709 shares of the semiconductor company's stock worth $38,000 after acquiring an additional 640 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in Rambus by 379.1% during the 4th quarter. Farther Finance Advisors LLC now owns 1,126 shares of the semiconductor company's stock valued at $60,000 after acquiring an additional 891 shares during the period. Quarry LP grew its position in Rambus by 26.9% in the 4th quarter. Quarry LP now owns 1,166 shares of the semiconductor company's stock valued at $62,000 after acquiring an additional 247 shares in the last quarter. Finally, UMB Bank n.a. grew its position in Rambus by 129.6% in the 1st quarter. UMB Bank n.a. now owns 1,233 shares of the semiconductor company's stock valued at $64,000 after acquiring an additional 696 shares in the last quarter. Institutional investors and hedge funds own 88.54% of the company's stock.

Insider Buying and Selling at Rambus

In other news, Director Steven Laub sold 1,847 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $55.12, for a total transaction of $101,806.64. Following the completion of the transaction, the director now directly owns 9,057 shares of the company's stock, valued at approximately $499,221.84. This represents a 16.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Luc Seraphin sold 6,348 shares of the company's stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $46.97, for a total value of $298,165.56. Following the completion of the transaction, the chief executive officer now directly owns 319,241 shares of the company's stock, valued at $14,994,749.77. This trade represents a 1.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,848 shares of company stock valued at $2,644,133. Insiders own 1.00% of the company's stock.

Rambus Price Performance

Shares of RMBS stock traded down $0.43 during trading hours on Tuesday, reaching $59.94. 745,087 shares of the stock were exchanged, compared to its average volume of 1,266,714. The business's fifty day moving average is $52.74 and its two-hundred day moving average is $55.67. The firm has a market capitalization of $6.44 billion, a P/E ratio of 31.22 and a beta of 1.20. Rambus, Inc. has a 12-month low of $37.43 and a 12-month high of $69.15.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on RMBS shares. Wall Street Zen cut shares of Rambus from a "buy" rating to a "hold" rating in a research report on Monday, May 19th. Rosenblatt Securities reissued a "buy" rating and issued a $80.00 price target on shares of Rambus in a research report on Tuesday, April 29th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Rambus currently has a consensus rating of "Buy" and an average target price of $75.00.

About Rambus

Rambus Inc provides semiconductor products in the United States, South Korea, Singapore, and internationally. The company offers DDR memory interface chips, including DDR5 and DDR4 memory interface chips to module manufacturers, OEMs, and hyperscalers; silicon IP, such as interface and security IP solutions that move and protect data in advanced data center, government, and automotive applications; and interface IP solutions for high-speed memory and chip-to-chip digital controller IP.